California Public Employees Retirement System continued to hold its stake in shares of Shutterstock, Inc. (NYSE:SSTK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,800 shares of the business services provider’s stock at the close of the second quarter. California Public Employees Retirement System owned 0.07% of Shutterstock worth $1,049,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Shutterstock by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,660 shares of the business services provider’s stock worth $117,000 after acquiring an additional 398 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Shutterstock by 76.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,728 shares of the business services provider’s stock worth $164,000 after acquiring an additional 1,618 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Shutterstock by 1.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,490 shares of the business services provider’s stock worth $198,000 after acquiring an additional 80 shares in the last quarter. Allen Investment Management LLC bought a new stake in shares of Shutterstock during the 2nd quarter worth $242,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Shutterstock by 53.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,000 shares of the business services provider’s stock worth $264,000 after acquiring an additional 2,081 shares in the last quarter. Institutional investors own 61.75% of the company’s stock.

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Several equities research analysts have recently weighed in on SSTK shares. BidaskClub lowered Shutterstock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Deutsche Bank AG reduced their price objective on Shutterstock from $41.00 to $33.00 and set a “hold” rating for the company in a research note on Thursday, August 3rd. Zacks Investment Research lowered Shutterstock from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. SunTrust Banks, Inc. started coverage on Shutterstock in a research note on Tuesday, August 15th. They set a “hold” rating and a $36.00 price objective for the company. Finally, Jefferies Group LLC lowered Shutterstock from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $50.00 to $30.00 in a research note on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Shutterstock has an average rating of “Hold” and an average price target of $39.17.

In other news, insider Jeffrey Kane Weiser sold 4,449 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $38.00, for a total value of $169,062.00. Following the completion of the sale, the insider now owns 30,500 shares of the company’s stock, valued at $1,159,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 47.30% of the company’s stock.

Shares of Shutterstock, Inc. (NYSE SSTK) opened at $39.71 on Friday. The company has a market capitalization of $1,376.94, a price-to-earnings ratio of 50.27 and a beta of 1.47. Shutterstock, Inc. has a 12-month low of $29.85 and a 12-month high of $55.07.

Shutterstock (NYSE:SSTK) last issued its earnings results on Tuesday, October 31st. The business services provider reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The business had revenue of $141.10 million during the quarter, compared to analysts’ expectations of $133.24 million. Shutterstock had a return on equity of 9.71% and a net margin of 4.58%. Shutterstock’s revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. equities research analysts predict that Shutterstock, Inc. will post 0.69 earnings per share for the current fiscal year.

Shutterstock Company Profile

Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of content includes digital imagery, which consists of licensed photographs, vectors, illustrations and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications and video content, and commercial music, which consists of music tracks and sound effects and which is often used to complement digital imagery.

Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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